The wife and I have several hundred dollars (face value) of Franklin, Kennedy and liberty half dollars. We are not collectors and are not sure of best way to have the real value of the coins realized. What would be the best way to have this done? Invite dealers to view and quote on the coins, which are in $10.00 rolls or break the rolls and indivually bag the coins?
Howdy sorensen - Welcome to the Forum !! Before an answer can be given - a few questions need to be asked. Are the coins circulated ? Are the coins in rolls by 1 year only or are the rolls made up of coins from multiple years ? Do you have the Kennedy halves separated for the silver, 1964 only, and the 40% silver years, '65 thru '70 ? For the vast majority of the Franklins and Kennedy halves - if the coins are circulated - it would be best to just sell the non-silver Kennedy halves at face value. The silver coins can be sold for silver content - approx 4 times face value. As for the Liberty halves - this a whole other story. It would depend on the year, mint mark, and condition of the coin. These should probably be looked at by someone who knows and then have them tell you what to do. Some of these coins, even circulated, can bring nice prices.
Coins are circulated of various amount of wear. Some are soiled but crisp in detail others are nicked, most of the 30's coins are worn, some much more than others. Coins are rolled by grouping Franklin, Liberty, with various years in each roll. Kennedy are rolled by silver and non. Would sorting the liberty coins by year and mint help. Is buy coin cards and mounting the liberty coins worth it or should they be individually bagged before taking to dealer?
I would not go to the expense of getting 2x2 holders just yet. But if you can separate out the Liberty halves and provide us with the dates & mint marks you have - then we can be of more help. It would be especially helpful if you could provide a picture or two so we could see what an average coin looks like to judge its condition. The mint mark can usually be found ( depending on date ) on the reverse - bottom left side about 8 o'clock.
Can't add much more to what GDJMSP said, but I'll try You might make more on the coins if you sell to a collector and not a dealer. Lets say the Franklin Half's are all circulated and no "key" dates, you might get from $2-$4 a coin....but that is just my thoughts--when I buy half dollars its $2-$4 a coin and I have gotten some nice ones. You say you're not collectors--are you wanting to find out how much the coins are worth to sell them, or are you thinking you might want to start collecting?? Coin collecting is a great hobby and I would encourage you to keep the coins and to start collecting more! After you post more info I will try and post again with anymore thought I might have. Speedy
Good advice so far. Let me add that you should not handle any of the silver or part silver coins any more than absolutely necessary, and use cotton gloves for that. Do not - repeat do not - try cleaning them. Get offers from a couple of local dealers - check eBay and Yahoo completed auctions- and post the information GDJMSP mentioned. Chances are, based on your description of the early coins as "worn", that most of your silver coins will be worth their bullion value, roughly a couple of bucks each. The clad coins are generally not worth much more than face value in circulated condition. Regretfully, your hoard doesn't sound like a substitute for a good 401(k) or IRA.
satootoko I must disagree with you there--from what he said, the coins are circulated--circulated coins don't get fingerprints so why worry about touching your coins when you can't hurt them??? sorensen The clad Kennedys half dollars I would just use at stores or cash them in---Kennedys from 1964-1970 are 90% (1964) and 40% (1965-1970) silver. I will watch for the list of Liberty halves (some call them Walking Liberty half dollars)....they are some very nice coins...I am working on a set of them right now. Franklin halfs... Watch for the following dates--they are a little better and might bring more money. 1949-D 1949-S 1950-D 1951-D 1951-S 1952-S 1953 1953-S 1955 1956 The mint mark will be on the back above the bell---if there is no mint mark it's a P. As GDJMPS said..the mint mark on the Walking Libertys are on the back..BUT in 1916 and 1917 some of the mint marks are on the front..below "In God We Trust". Watch for (in Walking Libertys) 1916-S 1921 1921-D 1921-S 1938-D They didn't make a 1922 WL half dollar, so you will not find any of them! Thanks and have fun, Speedy
Thanks everyone for the good advice, I have checked with the two Locally listed coin dealers. One was willing to offer double face value on all 1963 Kennedys, all Franklins and all WL's based on sampling of 60 coins. Second dealer was offering $1.80 for K's and F's and $2.00 for WL's.....Have to do some thinking maybe take coins to larger city. Some coins strike me as being very good shape compared with coins ( franklin's) offered for sale retail at store for $14.00.
I would definitely look around some more. The prices being offered for the coins sound rather low. I know I would pay at least two dollars for the Kennedys and Franklins, and probably $2.50 to $2.75 for the WL halves. I don't know if it's true or not, but a few days ago a dealer told me that wholesale prices for WL halves were around three dollars. Then again, he was offering them for $2.50, but he said that he had gotten them from people who brought them in to his shop. If you don't like any of the prices dealers are offering, you could always just hold on to them.
As for the first offer, I would have to say that that almost borders on unethical... at least it's not as bad as offering face value for 90% silver.
A larger city will not likely produce better results. The offers you received are pretty much standard and to be expected. I would not be one bit surprised if you found a dealer only offering face value. What many people fail to understand is that if a dealer is offering his coins for sale at $14 - you cannot expect to get anywhere near that if you sell him one just like it. The $14 is a retail price. A dealer buys coins on a level well below that. For a $14 retail coin the dealer Bid might only be $6 and the dealer Ask $9. But many dealers will only pay 20% less than Bid. That would make his buying price about $4.50. Now these are just numbers I am using to give you an idea. They might vary by a dollar or two.
Sorensen, I sent you a private message on what I would give you for the coins.....Which is about exactly the same jaeru has stated he would pay for them, but, i'm low on franklins, and need plenty more nice circulated grades for 2.25 for a large lot and 2.50 if you only have two or three rolls, as for W.L. halves, the same as what jaeru has stated he pays for them...If you can send me photos of some of the nicer coins, I will give you a better price for them than what I pay for most of what I buy in bulk, drop me a line. Vittorio_demonte@yahoo.com
Sample Scans I have started listing coins and made some scans, I really am thankful for the advise and input from everyone. This has generated much discussion between the wife and I (which is great) we may have a new shared hobby.
Unfortunately, those aren't worth a whole lot of money. I wouldn't spend a lot trying to market them. If I didn't want to keep them, I would consider the dealers' offers.
Private messages (not spam) are fine. We would prefer to limit offers to buy and sell to the "Open Forum". Thanks.
Sorry about that, it was just that I sent a private message, and them being new to the forum, may not have been able to know how to get there, or something simliar, didn't really intend to market on this room, just intended to justify what had already been said, sorry again.
Just a thought from another newbie.. Have been through a similiar situation as yours; I would suggest picking out which coins you want to keep and when you find a dealer you're comfortable with "trade" your coins for an equivalent $$ amount for what he has that interests you. More than likely you will receive a little better price for your coins; you won't have to pay tax as if buying outright and you won't need as big of a safe...right away. Good luck and have fun WK
